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Out of the City, into Africa as rich at last start giving

A NEW breed of philanthropists pouring their fortunes into the developing world are behind a doubling of charitable giving by Britain's rich.

The new Giving List, tied to The Sunday Times Rich List, shows tycoons using their profits to fund teachers in Rwanda, Aids treatment in Mozambique and the purchase of swathes of Amazon rainforest the size of London to save from loggers.

The projects have contributed to a 97% increase in the donations from the leading 30 philanthropists among the richest 1,000 people.

Many of the tycoons are approaching their philanthropy as they would a business deal.

They are bypassing the traditional route of giving money as emergency aid through established charities, instead striking deals direct with African and Asian governments to ensure the money produces clear returns in education, health and improved living conditions.

The giveaway is being led by Christopher Hohn, 41, a City hedge fund manager,